Finance Act, 1992
|
Alteration of rates of capital gains tax. |
60.—(1) Section 3 of the Capital Gains Tax Act, 1975 , is hereby amended, as respects chargeable gains accruing on any disposal made on or after the 6th day of April, 1992— | |
(a) by the substitution of the following subsection for subsection (3) (as amended by the Finance Act, 1990 ): | ||
“(3) Except as otherwise provided for by the Capital Gains Tax Acts, the rate of capital gains tax in respect of chargeable gains accruing to a person on the disposal of an asset shall be 40 per cent., and any reference in those Acts to the rate specified in this section shall be construed accordingly.”, | ||
and | ||
(b) by the deletion of subsection (4) (inserted by the Finance Act, 1982 ). | ||
(2) Section 36 (as amended by the Finance Act, 1990 ) of the Finance Act, 1982 , is hereby amended by the deletion of subsections (2), (3) and (3A). |